Penalty for Non Issue of TDS Certificate in Form 16A from TRACES

Notices for the penalty for late issuance of TDS certificate (Rs. 200 per day of default) is now being issued by the TRACES. (Even though the same provision was in force since long, application was […]

Add Deductee Details in Newly Added Challan Online Correction TRACES

Revising TDS Return is now not a easy Job. TRACES has discontinued recently C9 type of correction due to which dedcutor is now not able to add challan in revised return in offline form. Online Correction is required for […]

Procedure for E-Filling of TDS Return

Electronic statements (e-TDS/TCS/AIR) can be uploaded online to the TIN central system only for those TANs who have been associated with the organisation and duly authorised by NSDL. After preparation of the electronic statement, entities […]

Circular No 723 dated 19/9/1995 – TDS on Foreign Transporters

SECTION 172  SHIPPING BUSINESS OF NON-RESIDENTS Tax deduction at source from payment made to foreign shipping companies Representations have been received regarding the scope of sections 172, 194C and 195 of the  Income-tax Act, 1961, […]

How to Claim TDS if not reflecting in Form 26AS

At the current time, many of the Individual Assesses are in hurry to file their income tax return with Income tax department to avoid any consequences for non compliance regarding filling timely ROI. However, while […]

TDS on Ocean Freight

Applicability of TDS Provisions for Ocean Freight basically depends upon Status of Transporter, weather Resident or Non Resident. As in case of Resident, Provisions of Section 194C of the Income tax Act, 1961 will apply […]